Advancements in technology are making bicycle security systems more smart and safe. GPS security tracking system for bicycles is the latest technology in the market, which allows bicycle owners to track their bicycles live on a map. This technological advancement and the need for smarter bicycle security systems are expected to grow the bicycle security system market at a high rate during the forecast period.

The bicycle security system market has a wide variety of innovative bicycle lock systems.

Modernization and advancements in bicycle security systems are expected to bring significant growth to the bicycle security system market during the coming years. Also, modern day alarms and smart locks use creative disarming techniques which are tough to crack and easy to carry. Moreover, smart navigation and social bicycle sharing platforms will also help the market.

Nowadays people want smart devices. New features, such as ride analytics and crash alerts, are attracting customers toward the bicycle security system market. Also, the conventional bicycle locks which are heavy and vulnerable to breakage are expected to be replaced by light-weight and smart bicycle security systems during the forecast period. Secondly, society is moving toward the use of eco-friendly vehicles, raising the bicycle market and indirectly benefiting the bicycle security systems market.

The increase in numbers of tech-savvy cyclists is expected to be a key driver for the bicycle security system market. The Internet of Things is making a new breed of gear available for tech-savvy cyclists. Also, the smart bicycle security system locks require no physical key, proving a new scope and opportunity to the bicycle security system market. However, the lack of public awareness regarding smart bicycle security systems and more use of petrol and diesel based vehicles by people hinders the bicycle security system market.

Bicycle security system market can be segmented as follows: Segmentation of the bicycle security system market on the basis of type (Pedal Lock System, GPS Tracker, Bike Alarm and Others), Segmentation of the bicycle security system market on the basis of locking type (Smart/automatic locking system or Physical Key locking system) Segmentation of the bicycle security system market on the basis of application (Road/standard bicycle, MTB/racing bicycle, Kids bicycle, E-bikes and Others) and Segmentation of the bicycle security system market on the basis of sales channel (Direct or Indirect).

Advancements in technology are making bicycle security systems more smart and safe.

The North America bicycle system market is expected to have a gradual growth in sales of road bikes while having a slow decline in sales of youth bikes. Whereas in Europe bicycle theft is doubled since the 1990’s due to increasing numbers of expensive bicycle models. Therefore, the demand for the bicycle security system is increasing in Europe. Moreover, the government expenditure on infrastructure development of the bicycle network is expected to grow the bicycle security system market in Europe.

An increasing adoption of bicycles by middle-income populations in the Asia Pacific Region makes the most significant share of bicycle security system market. In developing countries such as China and India, increases in the adoption of bicycle security systems is found due to the increased use of bicycles. This adoption of bicycles supports the growth of the bicycle security system market during the forecast period.

The report is a compilation of first-hand information, qualitative, and quantitative assessment by industry analysts, inputs from industry experts and industry participants across the value chain. The report provides in-depth analysis of parent market trends, macro-economic indicators and governing factors along with market attractiveness as per segments. The report also maps the qualitative impact of various market factors on market segments and geographies.